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1

SpaceX profitable: first quarter 2023

Documents reveal that SpaceX turned a small profit during the first quarter of 2023. After two annual losses, the company generated $55 million in profit on $1.5 billion in revenue. (First-quarter results are preliminary, though, while annual results are final.) SpaceX is also valued at roughly $150 billion at an employee stock sale, putting its […]

2

Musk: Twitter’s ad revenue down ~50%

Musk says Twitter has a “negative cash flow” and its advertising revenue has declined by about 50% amid a “heavy debt load” as competition between Twitter and Threads intensifies. This comes just as Twitter began paying content creators for posting advertisements. Some users are reporting payouts of over $100,000, and Musk himself says Twitter will […]

3

Fidelity: Twitter worth 33% of Musk’s purchase price

According to Fidelity, which helped finance Musk’s purchase of Twitter, its valuation of its equity stake in the company puts the total value of Twitter at $15 billion, around 33% of what Musk originally paid for it. Fidelity downgraded its holdings in the company by 56% a month after the acquisition, by 63% in February 2023, […]

4

Tesla stock drops nearly 10% over continued price cuts

Tesla stock (TSLA) drops nearly 10%, nearly $50 billion in market capitalisation, after Musk says the electric vehicle manufacturer will keep cutting prices in a bid to drive up demand in a weak economy. Focusing on sales growth rather than immediate profit, Musk said: We’ve taken a view that pushing for higher volumes and a […]

5

Tesla lost $140m on Bitcoin in 2022

According to SEC filings, Tesla lost $140m on its Bitcoin investments in 2022, losing $204m overall, although it gained back $64m through trading. The company holds $184m in Bitcoin, having offloaded most of its initial £1.5 billion purchase a few weeks after it was purchased in early 2021.

6

Holyrood committee report published

Holyrood’s Rural Economy and Connectivity Committee publishes a report calling for “root and branch” reform of the system for procuring ferries and concluding that the established procedures are “no longer fit for purpose”. Former bosses at Ferguson shipyard, ministers, state-owned CMAL and Transport Scotland are all criticised. Committee convener Edward Mountain: All parties involved must […]

7

McGregor’s promotion company posts six-figure loss

McGregor Sports and Entertainment Ltd’s new accounts – approved today by the company’s directors – show the company had accumulated losses of €354,708 at the end of December 2017, compared to accumulated profits of €116,215 the year before – a negative swing of €470,923. McGregor is listed as the sole shareholder in McGregor Sports and Entertainment […]

8

A breakdown of McGregor-Mayweather ticket sales

A breakdown of ticket sales for the McGregor Mayweather fight is released by the Nevada State Athletic Commission. The hottest ticket was priced at $5,000, but these seats, located at the top of the lower level seats at Las Vegas’ T-Mobile Arena, were deeply discounted, sinking to $1,500, close to fight night. Overall, the event was […]

9

White: Tickets for promo tour selling out fast

White confirms that 30,000 tickets have been sold for the the McGregor-Mayweather press events at the Los Angeles and Brooklyn stops alone. Staples Center is sold out, and by sold out, I mean we did tickets and there’s no more seats left. Barclays [Center] sold out. We had to get a bigger venue in Toronto, […]

10

McGregor to earn $100 million for fighting Mayweather

White says he expects McGregor to make $100 million from fighting Mayweather. Mayweather has previously said he expects to ear $300 million from the fight.  I made 300 [million dollars] in one night [vs. Manny Pacquiao]. Throughout my career I made 800 [million dollars] and it’s possible I can make another 300 [million dollars].

11

Johnston Press reports £300m pre-tax loss

The company reports a £300.3m pre-tax loss for 2016, compared to a £2.2m pre-tax profit the year before. Total advertising revenue is down 17.7% year on year to £122.6m, driven by a 9.5% fall in print ad revenue. The fall in print advertising income was not offset by digital ad revenue, which remains flat at […]

12

McGregor’s UFC 205 headline brought $57 million to New York

A UFC-commissioned study says UFC 205 brought in $57 million of benefits to New York city. In addition to ticket receipts totaling $17.7 million and big spending from domestic and international visitors, the McGregor-headlined card contributed a total of $37.4 million in economic output for NY, surpassing the promotion’s initial $32 million projection. Salaries and wages tied […]

13

UFC 202 broke PPV records

Sources say that the DirecTV numbers for UFC 202 were the highest in the promotion’s history. Current estimates have the show doing 1.65 million buys on pay-per-view, putting it slightly ahead of UFC 196, the first McGregor vs. Diaz fight, which was estimated at 1.6 million. Both would be ahead of the prior record set at […]

14

$3 million purse

The Nevada State Athletic Commission confirms McGregor’s purse for UFC 202 is $3 million, the richest disclosed purse in MMA history. McGregor became the first UFC athlete to ever receive a disclosed purse of $1 million, for UFC 196. Brock Lesnar surpassed that record at UFC 200 with a disclosed purse of $2.5 million.

15

Writes off half the value of newspaper properties

Johnson Press announces it is taking a£183.6 million impairment charge (£216.9 million gross, net of £40.3 million in deferred tax), lowering by nearly half the value of the company. The action sends the company’s stock down over 18 percent. The Company also announces revenue drop of 9.7 percent in the second quarter, with ad revenue falling 15 percent. […]

16

Full-year results ‘meet City hopes’

Johnston Press reports that group revenues were down 13.7 per cent during the 17 weeks to 30 April, reflecting a 14.4 per cent fall in the first quarter and an “improved rate of decline of 11.5 per cent in April”. The group said i daily print sales peaked at 297,849 for the month, a rise of 7 […]

17

Profits rise by more than a fifth but further cuts loom

Johnston Press reports total revenue for 2015 was down by 6.8% from £260m in 2014 to £242.3m last year. However, profits increased by 22.6% to £31.5m by reducing costs to £191.7m from £205.3m in 2014. CEO Highfield says the group hopes to sell some brands and some of its key assets. However, he said he “could not rule out” […]

18

Highest earning dead celebrity

Forbes says Jackson has earned more than $1 billion pre-tax since his death, which is more than enough to pay off his personal debts. in 2105 the estate made $115 million, in part from the Vegas Cirque du Soleil show Michael Jackson One, the Mijac Music catalogue, recorded music sales and half of Sony/ATV Music Publishing, which includes the rights to […]

19

Files for IPO

An SEC filing (document) reveals the company is officially seeking an initial public offering, as well as financial information: In the first half of 2015 Square took losses of $77.5 million on revenue of $560.5 million. In 2014, the company reported gross payment volume of $23.78 billion. The filing reveals retail the biggest source of transactions for the company […]

20

Stock drops 10% on earnings drop

Walmart has its worst stock decline in more than 27 years after predicting a drop in annual profit. Earnings will decrease 6 percent to 12 percent in fiscal 2017, which ends in January of that year. Analysts had estimated a gain of 4 percent on average. Efforts to raise the minimum wage to a goal of $10/hr combined […]